The global Disposable Medical Sensors market size is expected to be worth around US$ 22.3 billion by 2030, according to a new report by Vision Research Reports.
The global Disposable Medical Sensors market size was valued at US$ 15.1 billion in 2020 and is anticipated to grow at a CAGR of 20.2 % during forecast period 2021 to 2030.
Increasing prevalence of chronic diseases has been observed to be a major factor driving growth which is demanding for better healthcare service provision by high quality diagnostic and monitoring devices. These devices will enable patients to self-monitor and along with easy and affordable usage. In addition, the rapidly rising technological advancements is expected to bring in innovation in
The market is also being driven by government initiatives to fund and encourage R&D which in turn will help in launching innovative products. For instance, the government of India increased the health expenditure from 1.4% to 2.5% for innovations, and other healthcare services. Innovations in medical sensors not only instill ease of use but also assist in making the device portable and automated.
On the basis of product, the biosensor segment is accounted to be the spearhead in 2016 and is expected to maintain its dominance over the forecast period. This can be attributed to the rising demand for rapid and accurate diagnostic kit. Development of such diagnostic tools is expected to further create new growth opportunities for biosensors, thereby supporting growth of the disposable medical sensors market. Launching of new products are expected to fuel market growth. For instance, Raiing Medical launched wearable thermometer in 2016 that is rechargeable and waterproof. Similarly, MEMSIC Inc. launched new pressure sensor in 2017 which is used in breath detection.
Rising incidence of chronic diseases and the demand for low medical devices is expected to promote market growth over the forecast period.
The disposable medical sensors are identified as cost-effective and powerful tools for monitoring and diagnosing diseases as well as vital human parameters, and for various therapeutic applications. Sensor-based devices have evolved over the years in terms of improvement and applications. For instance, carbon nanotube-based biosensors are used for the detection of microorganisms such as S. aureus and E. coli. The technological advancement such as high speed and low cost is enabling faster and accurate results.
Based on the product, the industry is segmented into biosensors, pressure, accelerometer, temperature, and image sensors. The biosensors segment held the largest market share as of 2020 and is expected to maintain this share over the forecast period owing to the increasing diagnosis of infectious disease and the demand for point of care testing, wherein these are commonly used.
Image sensors are expected to be the fastest-growing segment owing to the demand for Complementary Metal-Oxide Semiconductor (CMOS) image sensors and the introduction of cost-effective products such as fiber optics which are used in endoscopes.
The disposable medical sensor on the basis of type is segmented into strip, wearable, implantable, invasive, and ingestible sensors. The strip based held the largest market share in 2020, owing to the adoption of strip-based products in various diagnostic applications such as glucose monitoring, magnetic nano-particles, and disease testing. Also, the high volume of patients suffering from diabetes, leading to continuous monitoring of the glucose level, is expected to maintain the market share over the forecast period.
Ingestible segment is expected to be the fastest-growing owing to the growing demand for ingestible pills and digital medicine. These are mainly used in endoscopy, controlled drug delivery, and patient monitoring. Increasing the prevalence of chronic diseases and the need for invasive diagnostic testing is propelling the growth of the ingestible segment. Additionally, the results obtained by using ingestible product is more accurate which is expected to fuel the market further
Disposable medical sensors are segmented into diagnostic, therapeutic, and patient monitoring based on application. The diagnostic segment has been identified to be the largest market shareholder due to its usage in a variety of diagnostic devices such as endoscopy, spirometry, and medical imaging devices. Additionally, the development of wireless communications owing to integrated biosensor is creating growth opportunities in the diagnostic field.
The patient monitoring segment is anticipated to be the fastest-growing segment over the forecast period. With the advancing technology and increasing need for better monitoring devices, the need for is rising. Additionally, new product launches are enhancing the quality of care.
North America is expected to dominate the market as of 2020 by contributing over 40.0% of the revenue. The presence of a large number of industry players and the introduction of new products within the region is expected to support growth.
Asia Pacific has a growing establishment of medical device companies over the forecast period, leading to ancillary growth of the industry within the region. Furthermore, the presence of a large pool of geriatric population, and increase in healthcare spending, are expected to positively impact the market.
Medtronic, Philips Healthcare, Smiths Medical, Analog Devices, NXP Semiconductor, GE Healthcare, Sensirion AG, TE Connectivity, STMicroelectronics, and OmniVision Technologies.
The Disposable Medical Sensors market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Disposable Medical Sensors market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Disposable Medical Sensors market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Disposable Medical Sensors market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Disposable Medical Sensors market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Disposable Medical Sensors capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Disposable Medical Sensors by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Disposable Medical Sensors market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Disposable Medical Sensors market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Disposable Medical Sensors market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Disposable Medical Sensors industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Disposable Medical Sensors market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Disposable Medical Sensors market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Disposable Medical Sensors market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Disposable Medical Sensors market. These factors have benefited the growth of the global market for Disposable Medical Sensors. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Disposable Medical Sensors. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Disposable Medical Sensors are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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